IPO Wealth to facilitate foreign ASX listings

IPO Wealth to facilitate foreign ASX listings

Fintech start-up IPO Wealth has raised $10 million in growth capital that it will use to help overseas companies list on the ASX.

Since March 2017, high net wealth investors have invested $10 million in the IPO Wealth Fund, which aims to help overseas companies list on the ASX and has funded the growth capital of 10 investments across eight countries.

IPO Wealth chief executive James Mawhinney said in a statement that the capital raised within the first half-year of the fund demonstrated that investors were looking for opportunities outside of traditional means, “which are often eroded by inflation”.

According to him, there was a “substantial” appetite of global companies seeking management of the process to become publicly listed in Australia.

This led him to set up IPO Wealth “to support sister business The Public Listing Co”, a “listing co-ordination service business that helps businesses navigate and co-ordinate pre-IPO funding rounds and to list on the ASX”, the statement said.